U.S. stocks are opening higher, tracking European markets that jumped following an apparent cease-fire deal in Ukraine.

The Dow Jones industrial average rose 63 points, or 0.4 percent, to 17,130 in early trading Wednesday. The Standard & Poor’s 500 gained six points, or 0.3 percent, to 2,008.

European and Russian stocks rose sharply after Russian President Vladimir Putin issued a peace plan for eastern Ukraine Wednesday. That followed an earlier announcement from Ukraine of a cease-fire deal.

Ukraine and the West have accused Russia of supporting pro-Russian insurgents fighting government troops in eastern Ukraine since mid-April. Moscow has denied the charge.

Russia’s MICEX benchmark index was up 3.2 percent. Germany’s DAX index, which is sensitive to the crisis because of the country’s economic ties with Russia, rose 1.5 percent.

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